Finance ministery announcement : Debit cards holder, who withdraw cash from any bank ATM, can do it without additional charge for the next three months.

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1. In a relief to the small businesses, insolvency proceedings’ threshold limit extended from Rs 1 lakh to Rs 1 crore
2. For newly incorporated companies, there is a requirement to file declaration of commencement of business in 6 months, we now give additional 6 months’ time.
3. Debit cards holder, who withdraw cash from any bank ATM, can do it without additional charge for the next three months.
4. Banks charges have been reduced for all trade and finance consumers.
5. Debit cards holder, who withdraw cash from any bank ATM, can do it without additional charge for the next three months
6. We may consider suspending Section 7, 9 and 10 of the Insolvency and Bankruptcy Code (IBC), at a later stage, if the present circumstances prevail beyond six months
7. If there is a company director who doesn’t comply with the minimum residency (staying in the country for 182 days or more), this won’t be treated as a violation

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